Assigned Topic: Branding: How to Use Intellectual Property toCreate Value for Your Business?Group Members: Nidhi Gupta, Aanchal Sood and Subhash Chandra GuptaAnalysis and ReflectionIt is common for small businesses to underestimate the value of trademarks, copyrightsand other intellectual property and their role in creating business opportunities andenhancing an enterprise’s valuation. Most businesses, whether they are selling goods orservices invest heavily in building a reputation. Such a reputation can become avaluable business asset and just like any asset, should be protected and managed tomaximize its value.The same intention is what we aim to carry forward for BABYZINE. We aim to carry abrand image in the market to establish a link and identity in the market. The mainpurpose of creating intellectual property is to create brand loyalty and differentiateproducts from the existing service. These properties, successfully used, will also createopportunities for franchising or licensing agreements, the creation of joint ventures, thesale of assets to other firms or even opportunities to obtain financing based on the valueof the marks or other properties. Such opportunities begin with a marketing plan and astrategy to legally protect and maintain the marks.The first step to the existence of BABYZINE is by registering the Trademark forBABYZINE. The attachment of the concept of BABYZINE and the registration form forthe trademark registration has been attached along with this write-up. The importantfactor as to why we would like to register the trademark is because we believe inestablishing the identity with the unique concept that BABYZINE follow. It is best toregister a mark before it is used in commerce. It is much less costly and time consumingthan redesigning logos or changing names after discovering that somebody already hasregistered a similar mark. Once we have successfully registered a mark, it is importantto maintain the registration by continuously using the mark in commerce, policing themarket for violators and reviewing the use from time to time to ensure that the markhas not evolved in such a way that it is no longer protected by the original registration.About HOBBY IDEASPromoted by Pidilite Industries Limited, Hobby Ideas offers a range of more than 2500products across various categories from different countries all over the world. Theproducts are complemented with books, videos, finished articles, projects andworkshops that make Hobby Ideas a unique and complete experience for art, craft andhobby enthusiasts in India.Pidilite Industries Limited has been a pioneer and market leader in consumer,craftsmen and specialty chemicals in India. Since its inception in 1959, Pidilite has a
strong base among both consumer and industrial segments. Its product range includesadhesives and sealants, construction and paint chemicals, automotive chemicals, art &hobby materials, stationery products, industrial adhesives, industrial and textile resinsand organic pigments and preparations.At Hobby Ideas, you can choose from a wide range of craft & hobby products – MouldingCraft, Glass Craft, Ceramic Craft, Fabric Craft, Candle Craft, Decoupage, Scrapbooking &Paper Craft, Stickers & Transfers, Aero Modelling, D.I.Y Kits, Stamp Collection, Fine Artrange, Party products, Magic Kits, Games, Return Gifts, Puzzles and a lot lot more.The Hobby Ideas stores are currently located in Mumbai, Ahmedabad and Surat. We arealso opening new stores in Pune & Nagpur city’s shortly. You can also find us with aselect range of the Hobby Ideas products in few stores of Staples, Shoppers Stop,Starmark & Crossword chains in Mumbai, Ahmedabad, Pune, Noida, Bangalore &Kolkata. For more details of our store and shop-in-shop locations and addresses, pleasevisit the ‘Store Locator’ section on this website.About MADRob, the favourite anchor of kids TV takes you on a fun-filled, interactive, creativejourney, transforming ordinary materials into stimulating works of art with his MADtwist. Every single time you discover new styles, that are easy, and exciting, and foreveryone to try and enjoy.Armed with simple art tools like a pencil, paintbrush, colours and paper, Rob will takeyou on a creative joyride, and help you explore the world of possibilities through art.From new and easy painting techniques, to fun and exciting paper crafts. Playing withshadows and silhouettes, recycled boxes and bottles, was never so much fun! And tomake the MAD experience even bigger and better, Rob allows his imagination andcreativity to run wild, and gives us the most spectacular, most magnificent, mostgigantic BIG Picture. So hop on board and get set for an art adventure like no other.Because MAD hai, toh sab cool hai!What is BABYZINE all about?To begin with a key factor for the company is to discover a valuable product or servicewhich knows and respects customer needs and desires? Product or service is created asa solution to the customer’s need. Brand is developed to emphasize the customer needfor the specific product and explain the possible advantages of this product in order tosatisfy thoseneeds. At BABYZINE we have discovered the need of parents to let their childrenexplore their creative side. Since the economy is majorly shifting towards a knowledgeeconomy, we see parents let their kids exploring their creative side. Along with that wealso see the parents urge to show it to the world the creativity of their kids.The next key point is discovering and developing competitive advantage. The definitionaccording to Micheal Porter is: ‘competitive advantage grows out of value a firm is ableto create for its buyers that exceeds the firms cost of creating it. Value is what buyers
are willing to pay, and superior value stems from offering lower prices than competitorsfor equivalent benefits or providing unique benefits that more than offset a higher price.There are two basic types of competitive advantage: cost leadership and differentiation.Cost leadership means that the company sets out to become a low cost producer in itsindustry. Differentiation means that a company seeks to be unique in its industry alongsome dimensions that are widely appreciated by buyers. The point of differentiation forus is that we let the creativity of the child come into a tangible form and once that couldbe replicated into mass number for commercial use. The idea is to use the creative sideof the kids to make something industrially viable.BrandingAssael defines brand: ’distinguishing name or symbol designed to identify the origins ofa product or service, differentiate the product or service from the competition, andprotect the consumer and producer from competitors who would attempt to providesimilar products.Branding is the process of creating an association between asymbol/object/emotion/perception and a product/company with the goal of drivingloyalty and creating differentiation.Helen Lom, Director-Advisor for WIPO, says: ’Among the various factors that determinea brand’s success, one of the most important ones is the brand’s differentiation power.The brand must have a “point of difference” as far as the target group of consumers isconcerned.This point of difference must be:1. recognizable (in terms of the good and/or services marketed);2. desirable (in terms of the quality and value of the goods and/or services offered);3. credible (in terms of reliability);4. properly communicated (in terms of how the message is formulated and to whom it istargeted).Corporate identity is concerned with the visual aspects of a companys presence.Exercising corporate identity means that the company develop and innovates visualimages.The identity for BABYZINE
Business Plan for BABYzineGeneral Description: This business will keep kids (4yrs to 10yrs) busy, happy andcreatively occupied in malls while their mother/guardian shop.Mission Statement: To provide a service to parents/ guardians by keeping their wardinvolved in creative endeavours.Goals and Objectives: The goal is to create a business that provides a good source ofartistic entertainment to the child which may further take a more tangible shape in formof accessories, gift item, memento etc.The objective is to compete with similar and alternative business by offering somethingmore to take back and discuss possibilities of commercial viability of the designedtangible product.Business Philosophy:Make it easy for kids and parents to spend time in malls.Marketing:Work with event coordinators, mall administration, schools, etc. to be approved forselling and events at various venues throughout the year.Hand out business cards wherever appropriate to find future opportunities.Competitive strengths are the low prices, convenience and more tangible form of timewell spent at BABYzine.Pricing structure varies according to time spent by the child at the store but generallywill start at Rs. 250 an hour and an additional Rs. 50 every successive 20mins. Alsoprice varies as per final delivery product and order size.